Intershop publishes preliminary figures for the financial year 2025

• Revenues of EUR 33.3 million, after EUR 38.8 million in the previous year
• Cloud revenues stable at previous year’s level of EUR 20.5 million – significant improvement of incoming cloud orders
• Operating result (EBIT) of EUR -2.8 million impacted by a complex major project in the service segment; project acceptance recently completed
• Markus Dränert’s Management Board contract extended until March 2029
• 2026 outlook: After the successful implementation of cost-cutting measures, Intershop expects a balanced result with slightly lower revenues

Jena, 18 February 2026 – Intershop Communications AG (ISIN: DE000A254211), a global provider of B2B commerce solutions for the upper mid-market in the manufacturing and wholesale sectors, generated total revenues of EUR 33.3 million in the financial year 2025 (2024: EUR 38.8 million). While service revenues and license and maintenance revenues saw declines, revenues from the strategically important cloud business remained steady compared to the previous year. Earnings before interest and taxes (EBIT) were EUR -2.8 million (2024: EUR 0.1 million), mainly reflecting the impact of a major project that required significant resources, as well as expenses to support the sustainable reduction of the company’s cost base.

Revenues in the cloud and subscription segment totaled EUR 20.5 million in the financial year 2025 (2024: EUR 20.5 million). The share of cloud revenues in total revenues increased to 62% (2024: 53%). Incoming cloud orders rose by 9% year-on-year to EUR 21.7 million (2024: EUR 20.0 million), driven primarily by a large number of new contracts signed in the fourth quarter of 2025. Cloud ARR (annual recurring revenues) remained steady at EUR 20.1 million as of the reporting date, unchanged from the prior year. Net new ARR (before currency effects) came to EUR 0.6 million (2024: EUR 2.7 million), due to expiring customer contracts in the current financial year. After currency effects, net new ARR was EUR 24 thousand. The cloud margin remained stable at 65%.

License and maintenance revenues decreased to EUR 6.4 million in the reporting year (2024: EUR 9.4 million) as a result of the strategic focus on the cloud business. Service revenues dropped by 29% to EUR 6.3 million (2024: EUR 8.9 million), primarily due to a complex major project that required significantly more resources than originally planned. However, Intershop successfully achieved an important operational milestone with the project’s acceptance in early February 2026. Additionally, the partner-first strategy launched in 2024 began to have an impact, as the implementation of new projects was increasingly transferred to the partner network.

Gross profit decreased to EUR 14.7 million for the reporting period (2024: EUR 17.7 million). The gross margin slipped by two percentage points to 44% (2024: 46%). Operating expenses and income were down slightly by 1% to EUR 17.5 million (2024: EUR 17.6 million), while R&D expenses rose by 8% to EUR 7.2 million (2024: EUR 6.7 million). Sales and marketing expenses declined 15% to EUR 6.3 million (2024: EUR 7.4 million). General administrative expenses also decreased by 4% to EUR 3.2 million (2024: EUR 3.3 million). Other operating income amounted to EUR 0.5 million, as in the previous year. Other operating expenses rose to EUR 1.3 million (2024: EUR 0.8 million) and included one-time expenses for personnel reduction measures totaling EUR 0.9 million (2024: EUR 0.5 million), which are expected to drive efficiency improvements in the medium term and further stabilize Intershop’s cost base. As a result, earnings before interest and taxes (EBIT) stood at EUR -2.8 million (2024: EUR 0.1 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased from EUR 3.3 million to EUR 0.5 million. Earnings after taxes were EUR -3.2 million (2024: EUR -0.4 million), corresponding to earnings per share of EUR -0.21 (2024: EUR -0.02).

Markus Dränert, CEO of Intershop Communications AG: “The financial year 2025 was defined by operational and structural changes. A complex major project in the service segment required substantial resources but was successfully accepted in February 2026, marking an important operational milestone for us. At the same time, with the continued technological advancement of our platform into an agentic B2B commerce solution, the implementation of our partner-first strategy, and the sustainable reduction of our cost base, we have laid important foundations for the company’s future development.”

As of 31 December 2025, Intershop Group’s total assets amounted to EUR 33.3 million, compared to EUR 37.4 million at the end of 2024. The equity ratio rose significantly to 36% (31 December 2024: 29%). The increase was mainly due to a capital increase through a rights issue, which raised subscribed capital by EUR 4.4 million to EUR 19.0 million. Cash and cash equivalents stood at EUR 8.8 million as of the balance sheet date (31 December 2024: EUR 8.7 million). Cash flow from operating activities was EUR -0.3 million, down from EUR 2.1 million the previous year. As of 31 December 2025, Intershop employed a total of 224 people worldwide (31 December 2024: 261 people).

As part of the company’s strategic further development, the Supervisory Board extended the contract of CEO Markus Dränert. Originally running through November 2026, the contract now continues until 31 March 2029. Markus Dränert has served as CEO since September 2025, having previously been COO.

Frank Fischer, Chairman of the Supervisory Board of Intershop Communications AG: “By extending Markus Dränert’s contract, we are deliberately focusing on continuity and a long-term strategic perspective for Intershop. Having held operational responsibility as COO, he knows Intershop intimately and has played a key role in driving the company’s technology toward an agentic B2B commerce platform. Together with Petra Stappenbeck as CFO, we see the company as very well positioned under this leadership to successfully shape the next phase of development.”

For the financial year 2026, Intershop expects incoming cloud orders and net new ARR to remain at the previous year’s level. In terms of revenues, a slightly lower percentage decline is forecast compared to the previous year. Thanks to its improved cost base, Intershop expects a balanced operating result (EBIT).

The full consolidated financial statements will be published in mid-March 2026. All financials in this press release are provisional, pending completion of the statutory audit.

Intershop press contact
Isabell Zeitz
ir@intershop.de
T: +49-3641-50-1000